House price decline slowing?

House prices fell last month but at a slower rate than has been seen of late, according to new figures, while the market's fundamentals remain essentially robust.

The rate of year-on-year decline in house prices increased from 6.1 per cent in June to 8.8 per cent last month, meaning that they are now at the level as in June 2006, although still up by 34 per cent over the past five years alone.